Increased Demand for Enhanced Training to Boost the Global Shooting Ranges Market by 2020, Says Technavio
11 February 2016 - 04:40AM
Business Wire
Technavio analysts expect the global shooting ranges
market to exceed USD 1 billion by 2020, growing at a CAGR of
over 8%, according to their latest report.
The global shooting ranges market during 2016-2020, is expected
to grow rapidly due to increasing demand for cost-effective,
efficient and enhanced training requirements of armed forces all
over the world. Abhay Singh, a lead research analyst at Technavio
for the defense industry says, “As live training programs
are expensive and logistically difficult, defense authorities and
governments around the globe are focusing on simulators and
shooting ranges, which are more affordable than other forms of
training.”
A rapid increase in the sale of guns and ammunitions was
observed in the US, which has stimulated the US Department of
Defense (DoD) to strengthen regulations on the use of guns and
ammunitions and increase the efficiency of the police by setting up
of shooting ranges. The need to strengthen law enforcement
agencies, to help them keep pace with the changing world
environment, is also driving the global market for shooting
ranges.
Technavio’s lead aerospace and defense market research
analysts have identified the following three factors that will
drive the growth of the global shooting ranges market:
- Increasing demand for enhanced
training
- Introduction of advanced weapon
systems
- Investments in R&D
Increasing demand for enhanced training
Major military spending in countries such as the US, China,
Russia, Saudi Arabia, and India will be replacing their existing
military equipment with modernized shooting ranges and artillery
systems, which will drive the market during the forecast
period.
In 2015, Canada-based CAE signed a contract, approximately worth
USD 150 million to provide simulation products and training
services for many countries. Northrop Grumman, signed a contract
with the US Army to develop the combat training center
instrumentation system. Under this contract, the vendor will
modernize and replace the legacy RCS voice, video, and data
instrumentation by implementing the live training transformation
(LT2) consolidated product-line management (CPM) strategy.
Introduction of advanced weapon systems
Three-dimensional printed guns are part of a new technology that
has been developed to improve the accuracy of soldiers.
TrackingPoint, a US-based vendor, has developed a high-tech
long-range shooting rifle called TrackingPoint rifle, using 3D
graphics, laser technology, and Wi-Fi. The precision-guided firearm
offers practice in shooting moving targets at extended ranges (over
500 yards). Use of such advanced weapons in a live combat situation
requires training.
“The introduction of advanced weapon systems leads to a growing
need for training and simulation for soldiers, law enforcement
agencies, and police officers. Although outdoor shooting training
provides more space and movement to soldiers, indoor ranges offer
enhanced accuracy. These factors will drive the growth of the
shooting ranges market during the forecast period,” says Abhay.
Investments in R&D
R&D in shooting ranges has picked up owing to an increase in
defense budgets across the world. As a result of changing
environments and emerging technologies, defense departments across
different countries are developing new and improved weapons and
equipment to be used in shooting ranges.
In 2015, Meggitt Training Systems signed a three-year contract
worth $25 million with Public Works Government Services, Canada, to
set up shooting range facilities for the Canadian armed forces.
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About Technavio
Technavio is a leading global technology research and
advisory company. The company develops over 2000 pieces of research
every year, covering more than 500 technologies across 80
countries. Technavio has about 300 analysts globally who specialize
in customized consulting and business research assignments across
the latest leading edge technologies.
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techniques to ascertain the size and vendor landscape in a range of
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modeling tools and proprietary databases. They corroborate this
data with the data obtained from various market participants and
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